Clear Secure (NYSE:YOU) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Clear Secure (NYSE:YOU) in a report issued on Wednesday, Benzinga reports. They currently have a $40.00 price objective on the stock.

Other research analysts have also issued reports about the company. Wedbush reiterated a neutral rating and set a $21.00 price target on shares of Clear Secure in a report on Wednesday. Telsey Advisory Group reiterated an outperform rating and set a $34.00 price target on shares of Clear Secure in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clear Secure presently has a consensus rating of Hold and an average price target of $28.40.

Clear Secure Stock Performance

Shares of NYSE YOU traded up $0.57 during trading hours on Wednesday, hitting $17.75. The stock had a trading volume of 1,014,143 shares, compared to its average volume of 1,573,950. The company has a market capitalization of $2.82 billion, a P/E ratio of 57.24 and a beta of 1.59. The firm’s 50-day moving average price is $19.14 and its two-hundred day moving average price is $19.71. Clear Secure has a 52 week low of $15.28 and a 52 week high of $27.75.

Clear Secure (NYSE:YOU) last announced its earnings results on Wednesday, February 28th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The firm had revenue of $170.97 million during the quarter, compared to analysts’ expectations of $166.56 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The company’s revenue was up 33.3% on a year-over-year basis. As a group, analysts expect that Clear Secure will post 0.54 EPS for the current fiscal year.

Clear Secure Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.10 per share. This is a boost from Clear Secure’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, June 10th. Clear Secure’s payout ratio is currently 120.00%.

Insiders Place Their Bets

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now directly owns 41,727 shares of the company’s stock, valued at approximately $834,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 39.94% of the company’s stock.

Hedge Funds Weigh In On Clear Secure

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in Clear Secure by 28.7% in the 3rd quarter. FMR LLC now owns 3,641,892 shares of the company’s stock valued at $69,342,000 after acquiring an additional 811,586 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Clear Secure by 184.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,071,486 shares of the company’s stock valued at $22,791,000 after acquiring an additional 695,418 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Clear Secure by 258.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 440,866 shares of the company’s stock valued at $8,394,000 after acquiring an additional 317,934 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Clear Secure during the 1st quarter worth approximately $6,322,000. Finally, Vanguard Group Inc. raised its stake in shares of Clear Secure by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 9,460,663 shares of the company’s stock worth $195,363,000 after purchasing an additional 211,214 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

About Clear Secure

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.